By Pietro Lombardi 
 

Intesa Sanpaolo SpA's (ISP.MI) third-quarter net profit rose 28% on year, it said Tuesday, beating analysts expectations.

Net profit for the period was 833 million euros ($949 million) compared with EUR650 million a year earlier.

Operating income rose slightly on year to EUR4.27 billion.

Analysts had expected the Italian bank to report a net profit of EUR787 million for the quarter, according to a consensus forecast provided by FactSet.

Shares in Intesa and other Italian banks have been under pressure recently, as concerns over the country's budget have driven up the BTP-Bund spread.

Intesa's pro-forma fully-loaded common equity Tier 1 ratio, a key measure of capital strength, rose to 13.7% at the end of September from 13.6% in June.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

 

(END) Dow Jones Newswires

November 06, 2018 07:35 ET (12:35 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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